I thought it would be worthwhile to show agents, particularly HomeGain BuyerLink and AgentEvaluator members, some true stats of Internet leads (from one Realtor to another).

My goal in gathering this data was to discover  home buyer tendencies.  I randomly took 100 of our sales this year to come up with the following stats.

I figured it’s roughly 50% of our sales this year and would be a great sampling.

The main findings were the following:

Average Number of Days to Purchase: 180.5 days

Quickest Sale: 5 days

Longest Sale: 539 days

(Last year we had approximately 20 sales from leads that were from the year 2004.)

Number of Closed Leads with Phone Numbers: 88

Number of Closed Leads with no Phone Number: 12

(This is a tough number to quantify as many of our Agents put the phone numbers in the CRM once they have obtained it.  When I worked on this stat two years ago, we were at 25% of our sales came from leads with no phone number.  I believe we are most likely still around that level.)

Continue reading this post

We have polled home buyers and sellers once again and we’re sharing the results in order to help our AgentEvaluator® agent members better meet the needs of prospects.

We sent our survey to more than 14,000 home buyers and sellers who came through AgentEvaluator in the last year -– some who closed with a HomeGain agent and some who did not choose a HomeGain agent.

5 Useful takeaways from the survey that all AgentEvaluator members should read:

1. Consumer Feedback on agents is one of the top things homebuyers and sellers are looking for when they use AgentEvaluator.

• Takeaway: If you don’t have consumer feedback (reviews to say what a great job you’ve done as a Realtor) entered in your profile, get some entered today. To upload reviews, go to the Consumer Feedback section of your Proposal Templates page.

2. Most of the consumers who worked with a HomeGain agent chose that agent because of their personal response.

• Takeaway: As shown in both this year’s and last year’s survey, personalization has consistently been the most important reason consumers select HomeGain agents. If you ARE NOT personalizing EACH proposal to address the specific situation of the prospect you’re responding to, you should start today.

3. Most consumers expect to receive their proposals within 1 to 3 days. Continue reading this post

We all know why we have websites, right? Lead generation!

With so many people using the web to find out information before even placing a call to a Realtor, we have to keep our websites up with the times.

I have made my website easy to use and full of information. From links to the MLS system for easy home searching, to a list of what to expect, to a list of preferred providers, to a mortgage calculator, it is all in one place.  I am constantly uploading new listings, price changes, and disclosures for all of my listings.

There is a fine line on providing too much info. Vs. creating a reason for the lead to call.  Continue reading this post

OK, that is a pretty pretentious title. Who am I to tell you how to use Twitter? The simple fact is (and it’s one of the true beauties of social networking) there are no “rules” about how to use Twitter. The title, and gist, of this post however, fits in with my previous post, How Not to Use Twitter. That, and Louis has been bugging me to complete this “series”…

Rules or no rules, there are some tips and techniques that you can utilize to increase your chances of “success” on Twitter.

Whoa, “success” on Twitter? How do we define “success”?

Depends. Personally, I think if you are using Twitter for the sole purpose of generating leads (and eventually commission checks), then you are making a mistake and likely wasting your time. If you want to expand your sphere of influence, if you want to get to meet and engage with people from all walks of life, if you want to share and expand your knowledge and increase your “internet presence”, then by all means, utilize social networking tools like Twitter.

Simply put, the “hard sell” doesn’t work in social media. Start with the “I’m a REALTOR!” and “I’m a top producer!” or “Look at my new listing!” talk and people will instantly tune you out (if not outright unfollow or block you). In my opinion, the single best thing to do with a tool like Twitter is use it to engage with people. Ultimately, you can use Twitter to actually meet people “IRL” (In Real Life). And let’s face it, in real life is still the best social network ever, bar none. Continue reading this post

Mortgage rates, prior to June, were stabilizing after a volatile first quarter.  Potential home buyers and existing homeowners were settling in to the fact that a 4.5% conventional mortgage rate could be had; some days you had to pay a couple of points, some days only one.  FHA and VA loans were about an eighth of a percentage point higher.

I know that most everyone looks at me as an Internet guy who is good at lead conversion. As much as that is one of my strong points, one of my favorite things I do is teach my agents about Customer Education. Over the past few months I have spent a ton of money to educate myself on new concepts I could bring to the real estate world to help my company increase our business.  

One of our biggest obstacles, and most likely one of yours, is the lack of commitment that many home buyers are making these days. When I started my search a few months ago, I had no idea what I was going to learn.

I learned how to use Customer Education in our business to help drive sales.

Usually, as Realtors, we are quick to blame everyone and everything else about why a customer didn’t end up buying a home from us. I have observed this since I got into the business in 2001.  Since then I have realized that in order to become successful in this business, in fact in any business, is to accept responsibility and learn from our errors. Over the past year our Real Estate Agents have averaged 8 new buyers per month but only sold 1 home per 8 buyers per month.  

After analyzing these numbers, I realized that the reason Buyers were not commiting was because of the lack of information or more importantly their misinformation. After all, we are all products of the media these days and if they say the Real Estate market is bad, that’s a great excuse for Realtors not to become successful.  

If the Realtors don’t believe in the market, how can the buyer believe? Continue reading this post